Penumbra, Inc. (NYSE:PEN) Given Average Rating of "Moderate Buy" by Analysts

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $302.40.

Several brokerages have weighed in on PEN. BTIG Research reaffirmed a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. Truist Financial lifted their target price on Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Stifel Nicolaus set a $318.00 target price on Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded Penumbra from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, JPMorgan Chase & Co. lifted their target price on Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th.

Penumbra Stock Performance

Shares of NYSE PEN traded up $0.77 during mid-day trading on Tuesday, hitting $265.06. The company had a trading volume of 426,101 shares, compared to its average volume of 445,327. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 779.59, a PEG ratio of 2.83 and a beta of 0.53. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm's 50 day simple moving average is $278.93 and its two-hundred day simple moving average is $265.66.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business's revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, equities research analysts forecast that Penumbra will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the sale, the chief executive officer now owns 16,376 shares of the company's stock, valued at approximately $4,644,069.84. The trade was a 79.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bridget O'rourke sold 100 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the sale, the director now directly owns 5,423 shares in the company, valued at $1,551,791.45. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,696 shares of company stock valued at $50,207,745. Corporate insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On Penumbra

A number of institutional investors and hedge funds have recently modified their holdings of PEN. Barclays PLC raised its position in shares of Penumbra by 16.5% during the third quarter. Barclays PLC now owns 18,025 shares of the company's stock worth $3,502,000 after purchasing an additional 2,559 shares during the period. Blue Trust Inc. raised its position in shares of Penumbra by 43.4% during the fourth quarter. Blue Trust Inc. now owns 730 shares of the company's stock worth $173,000 after purchasing an additional 221 shares during the period. KBC Group NV raised its position in shares of Penumbra by 41.9% during the fourth quarter. KBC Group NV now owns 1,445 shares of the company's stock worth $343,000 after purchasing an additional 427 shares during the period. Pacer Advisors Inc. raised its position in shares of Penumbra by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company's stock worth $1,359,000 after purchasing an additional 57 shares during the period. Finally, Washington Capital Management Inc. acquired a new stake in shares of Penumbra during the fourth quarter worth $226,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.